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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (27534)	9/12/1998 12:36:00 PM
From: Philipp	Read Replies (1) of 94695

On the MSNBC online poll (37000 responses), 73 % of respondents said that it is time for President Clinton to go. While this is probably not representative for the U.S. population on the whole, it may will indicate the opinion of the voting minority, the only part of the population that matters to the decision makers in Washington. I would expect important Democrats to start asking for his resignation by Sunday/Monday. I think what killed Clinton's chances of survival was to commit perjury again in his August testimony (he certainly had foolish legal advice), since I doubt that the American people will forgive that. Friday's market action looked intrinsically bullish to me: rally despite some pretty major bad news (in particular from Japan). Is "I have sinned" and a few tears really enough? The market sentiment seems to have turned positive immediately after the President's team announced that it was about to publish a rebuttal. I still think that there could be a world-wide stock market crash Monday/Tuesday, starting in Japan and spreading quickly around the globe, ending either shortly after Clinton's resignation (if he decides to spare the Western world the further humiliation inflicted by his presidency) or after Greenspan's speech Wednesday morning. If there is no crash or at least another mini-plunge by Tuesday, I think that the immediate crash-alert would have to be called off. Regards, Phil P.S.: <OT> For the first time, Hillary Clinton did not say that she loved her husband, when she gave public support for him. Perhaps she is going to leave the White House even faster than he is.

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